New Blockchain Social Media Platform STEEMIT Pays You To Post and Vote Online

May 3, 2016

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Steemit, the social media platform where everyone gets paid to post online, has just rolled out it’s BETA. Led by CEO Ned Scott, formerly in private equity, and CTO Dan Larimer, the creator of Bitshares – Steemit today released a publicly available beta version of a social media content aggregator designed to reward content creators and curators with cryptocurrency.

CEO and Co-Founder Ned Scott said the reason he created this system was to build a community, incentivize them to contribute, and improve the quality of original content.

“Our vision is to not only build an empowered community but give content creators an avenue to make money online without needing to advertise,” said Scott.

“Steemit’s technology rewards users for posting, and the better it performs, the more that person earns. The system also rewards people for voting, and the more popular the content becomes, the more that person earns.”

Steemit, which is powered by Blockchain technology, uses forms of a new currency called Steem to reward users that upload articles, images, commentary and blogs, while rewarding users for sourcing and upvoting popular content. The earlier a person up-votes a post that becomes popular, the more they are rewarded. Users are paid half in “Steem Power,” a vesting currency that supercharges voting power, and half with Steem Dollars, which can be exchanged for USD.

Steemit’s peer-to-peer social economy, is open to anyone around the world. Users can earn Steem, use it as voting power, and exchange it for USD. The technology behind Steemit is open source and available to be viewed and expanded upon by others.

CTO Dan Larimer said:

“Steemit is a brand new way to recognize contributors online, especially those who join our community early and stay long term. New users will be given a portion of Steem when they sign up and those who initiate or improve the quality of discussions, through persuasiveness, clarity, grammar and formatting, will be upvoted faster and more appropriately rewarded.

“Steemit is easy and fun to use, and is the best opportunity for the regular consumer to earn and accumulate cryptocurrency,” added Larimer.

“The versatility of the Blockchain has allowed us to create an incentivized social media platform to exchange conversation, creativity, empowerment, and value. We want to promote dynamic, creative dialogue and debate with an opportunity to earn,” said Scott.

Steemit expects significant user growth from May until their first major reward issuance on July 4. Steem is currently trading at the US based crypto-exchange, Bittrex.com and at the Blockchain based ledger, Openledger.info. Steemit will also soon be available on mobile app.

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About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme. Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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